JACKSONVILLE, Fla. – This week is Real Estate Week on The Morning Show.
Northeast Florida is a hot market for real estate.
According to Northeast Florida Association of Realtors, the most recent figures as of February states that median sales price is $215,005 and average price is $256,725. 1,778 homes changed hands during the month, in an average of just 73 days to close.
More homeowners entered into the seller’s realm in February, with 3,200 new listings being added to the market. This figure is 10.2 percent more new listings than in February 2017 and pushed the current inventory to 7,713, up very slightly from January’s 7,639.
Overall, inventory is at 3.2 months’ worth – a nearly 16 percent drop from a year ago – and still well below the five- to six-months of inventory that is considered a balanced market.